Regulators scrutinize Community West
Community West Bancshares faces a new order from regulators that limits its ability to pay out dividends, sell stock or incur new debts without the prior approval of the federal banking overseers. The parent of Community West Bank also agreed with the Federal Reserve Bank of San Francisco on April 23 that the Goleta firm Read More →
Heritage Oaks regulatory order removed
Paso Robles-based Heritage Oaks Bancorp has bucked a regulatory consent order placed on it two years ago. The news came on April 23, as the firm reported that it earned $1.6 million in the first quarter, a 204 percent increase over the same quarter a year earlier. The parent company of Heritage Oaks Bank and Read More →
Founders earnings jump in Q1
San Luis Obispo-based Founders Community Bank earned $189,000 in the first quarter, up 220 percent from the $86,000 it earned in the first quarter a year earlier. The bank also announced plans to open a new Morro Bay branch. Loans and deposits were up during the quarter, with noninterest-bearing deposits climbing by $7 billion, CEO Read More →
Umpqua to buy American Perspective Bank for $44.7M
San Luis Obispo-based American Perspective Bank is being purchased by Portland-based Umpqua Holdings Corp. for $44.7 million. Under the deal, announced April 10, Umpqua will pay $10 per share in cash for American Perspective. The San Luis Obispo bank’s three Central Coast branches will be rebranded as Umpqua Bank. The acquisition has been approved by Read More →
Ojai Community Bank out from regulatory order
Ojai Community Bank is out from under a regulatory consent order imposed on it last year and reported a profitable 2011, swinging back from a loss the year earlier. The small Ojai-based bank said March 27 that regulators had lifted a Federal Deposit Insurance Corp. order placed on it on March 31, 2011. The announcement Read More →
